Condensed Financial Information of Registrant

12 Months Ended

Sep. 30, 2014

Condensed Financial Information of Registrant

Schedule I

STAR GAS PARTNERS, L.P. (PARENT COMPANY)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

	September 30,
(in thousands)	2014		2013
Balance Sheets
ASSETS
Current assets
Cash and cash equivalents	$	324	$	324
Prepaid expenses and other current assets		203		206
Total current assets		527		530
Investment in subsidiaries (a)		399,414		384,783
Deferred charges and other assets, net		2,003		2,523
Total Assets	$	401,944	$	387,836
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities
Accrued expenses	$	4,127	$	4,095
Total current liabilities		4,127		4,095
Long-term debt (b)		124,572		124,460
Partners’ capital		273,245		259,281
Total Liabilities and Partners’ Capital	$	401,944	$	387,836

(a) Investments in Star Acquisitions, Inc. and subsidiaries are recorded in accordance with the equity method of accounting.

(b) Scheduled principal repayments of long-term debt during each of the next five fiscal years ending September 30, are as follows: 2015—$0; 2016—$0; 2017—$0; 2018—$125,000; 2019—$0; thereafter —$0. The $125,000 principal amount of 8.875% Senior Notes mature in December 2017.

Schedule I

STAR GAS PARTNERS, L.P. (PARENT COMPANY)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

	Years Ended September 30,
(in thousands)	2014			2013			2012
Statements of Operations
Revenues	$	—		$	—		$	—
General and administrative expenses		1,420			31			2,019
Operating loss		(1,420	)		(31	)		(2,019	)
Net interest expense		(11,206	)		(11,197	)		(11,188	)
Amortization of debt issuance costs		(520	)		(474	)		(330	)
Net loss before equity income		(13,146	)		(11,702	)		(13,537	)
Equity income of Star Petro Inc. and subs		49,230			41,608			39,526
Net income	$	36,084		$	29,906		$	25,989

Schedule I

STAR GAS PARTNERS, L.P. (PARENT COMPANY)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

	Years Ended September 30,
(in thousands)	2014			2013			2012
Statements of Cash Flows
Cash flows provided by (used in) operating activities:
Net cash provided by operating activities (a)	$	21,513		$	34,537		$	39,196
Cash flows provided by (used in) investing activities:
Net cash provided by (used in) investing activities		—			—			—
Cash flows provided by (used in) financing activities:
Distributions		(19,850	)		(19,313	)		(19,525	)
Unit repurchase		(1,663	)		(15,217	)		(19,648	)
Net cash used in financing activities		(21,513	)		(34,530	)		(39,173	)
Net increase in cash		—			7			23
Cash and cash equivalents at beginning of period		324			317			294
Cash and cash equivalents at end of period	$	324		$	324		$	317
(a) Includes distributions from subsidiaries	$	21,513		$	34,530		$	39,173